Top gainer: Tata Steel 159 ▲ 5 (+3.4%)
Top loser: Hindustan Unilever 2,969 ▼ 58 (-1.9%)
Firstsource Solutions shares rise after acquiring UK-based Ascensos for £42 million
Firstsource Solutions’ shares climbed higher on Tuesday after the company announced that its wholly-owned subsidiary, Firstsource Solutions UK (FSL UK) has acquired UK-based, Ascensos. The company reported that it entered into a share purchase agreement with the shareholders of Ascensos to acquire a 100% stake in the company for a consideration of £42 million. Firstsource Solutions’ share price on Tuesday was up by 2.4% at ₹322 per share. Read more
Reliance Infrastructure Limited has risen over 50% in the last six trading sessions after reducing its debt
Anil Ambani-led Reliance Infrastructure Ltd surprised the street last week after it raised funds of ₹6,000 crore, significantly reducing its debt and focusing on expanding operations. The company’s board last week approved plans to raise ₹3,014.4 crore through a preferential issue of up to 12.56 crore equity shares at an issue price of ₹240 apiece. Additionally, it also cleared plans to raise up to ₹3,000 crore by making a qualified institutional placement (QIP). The move helped Reliance Infrastructure to reduce its external debts from ₹3,831 crore to just ₹475 crore. Read more
Arkade Developers stock sheds 1.9% after listing at 36.7% premium on NSE
The ₹410 crore IPO, which had set a price band of ₹121-₹128 per share, was a fresh issuance of shares worth ₹410 crore. There was no offer-for-sale (OFS) component. The market capitalisation of Arkade Developers stands at ₹3,186.92 crore as the stock falls 1.9%. The money raised from the fresh issuance of shares will be used to fund land acquisition and development of ongoing projects. Shares of Arkade Developers are trading 1.2% lower at ₹172.9 apiece on the NSE. The scrip listed at a premium of 36.7% to the IPO price. Read more